Under the theme “Building the World’s #1 Audio Network,” Spotify released its Q4 2020 results today. The main public-facing presentation is a splashy infographic illustrating user growth and recent acquisitions and features, with not a single financial metric in view.
Here are the basics:
- Premium subscription revenue: $1.9-billion
- Ad-supported revenue: $281-million
- Total revenue: $2.2-billion
- Gross profit: $575-million
- Gross margin: 26.5%
- Operating income (loss): ($69-million)
- Operating margin: (-3.2%)
The user growth? Spotify reports 155-million Premium subscribers, 199-million free-listening users of the ad-supported service, for a total of 345-million MAUs (monthly active users).
The geographic breakdown of MAUs is highest in Europe (35%), with 24% in North America, 22% in Latin America, and 19% everywhere else.
Investors didn’t love the report, sending SPOT stock tumbling downhill as of mid-day Wednesday: